Zinc One has locked up surface rights for the next 5 years with the Comunidad Campesina de Yambrasbamba (“CCY”) to permit access and work on the Bongará Zinc-Oxide Mine and Charlotte Bongara Zinc-Oxide Project in Peru. This enables work to proceed updating the Environmental Impact Assessment (EIA), a key component of their pending drill campaign to commence in August.
Milestone Agreement for $Z.V
“Reaching an agreement with the Yambrasbamba community is a major milestone for Zinc One and the Bongará Zinc-Oxide Mine Project. The Yambrasbamba community has previously seen the full gamut of mining – from exploration to construction to operations to remediation – which is extremely rare. They are very knowledgeable and not only understand the economic opportunities it will afford the CCY stakeholders, but have seen the overall minimal impact of mining and the benefits of remediation. We are grateful to have such a supportive community and, if the project moves ahead as we expect, then we see the building of the Bongará Zinc Oxide Mine Project as a win for the community, government and company shareholders,” commented James Walchuck, CEO of Zinc One.
Resource and Grade
Historical measured and indicated resource totalling 1,007,796 tonnes at 21.61% Zinc and historical inferred resource of 209, 018 at 21.18% Zinc.
- Previous operator mined at an average rate of 358 tonnes per day for a total of 25,000 tonnes (55.1 million pounds) of Zinc in 2007 and 2008.
- Over 8,000 meters of drilling including results of 29.5% Zn across 15.5 meters, 26.1% Zn across 12.5 meters, 29.7% Zn across 11.5 meter.
- Amenable to straightforward processing techniques.
- Peru is a mining friendly jurisdiction with an extensive history of production.
- Good road access, new hydro dam under construction.
- Zinc One will continue to enhance strong community relations established by Forrester.
The current zinc cycle is on a strong trajectory, and Zinc One is positioned for a solid crack at production in the wake of encouraging supply/demand fundamentals. Do you own DD.
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